Deutsche Bank unit faces penalties for sharing client information

Sunset in Tokyo, Japan

Deutsche Bank’s Japanese brokerage unit faces regulatory penalties for the second time in two years after the nation’s securities watchdog found that the firm improperly shared information about a company’s earnings with clients.

Bloomberg News reports that the Securities and Exchange Surveillance Commission recommended that the Financial Services Agency take administrative action against Deutsche Securities, the SESC said in a statement on Tuesday, without specifying the type of penalties sought.

The firm’s governance and compliance processes are weak, the commission said.

Around December 2014, a Deutsche Securities equity research analyst interviewed officials from a publicly traded company and received information on its quarterly earnings before they were announced, the SESC said. The analyst then gave the information to 21 salespeople and a client.

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Deutsche Bank Japan Unit Faces Penalty for Information Leak

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